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Australasia News

Mopani transitions copper operations to care and maintenance 

By: Martin Creamer     Updated 2 hours 30 minutes ago Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. The announcement, the company said, followed a number of meetings with Zambian government ministries to provide an update of its... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project

By: Simone Liedtke     Updated 3 hours ago ASX-listed Kogi Iron is seeing ongoing interest from potential new investors in its Agbaja cast steel project, in Nigeria, where Kogi is starting to see global capital flows to the commodity sector. Owing to the rapid escalation and global impacts of the coronavirus, or Covid-19, Kogi and KCM... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project
A location map of Kogi Iron's Nigerian cast steel project.

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia  

By: Martin Creamer     Updated 4 hours ago Diamond mining and marketing corporation, the De Beers Group, on Tuesday announced that it would contribute $2 500 000 across Botswana and Namibia to aid the response to the Covid-19 crisis. De Beers Group is a 50/50 joint venture partner with both Botswana and Namibia in the recovery and sorting... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia
De Beers Group CEO Bruce Cleaver

Gold Fields promoting widespread human welfare during lockdown 

By: Martin Creamer     Updated 4 hours ago Gold mining company Gold Fields, which has placed its South Deep gold mine in Gauteng on care and maintenance for the 21-day lockdown period, is promoting human welfare funding cross a number of fronts during the Covid-19 crisis. Firstly, South Deep, the Westonaria mine with a 70-year life, will... 

Gold Fields promoting widespread human welfare during lockdown
Photo by Creamer Media
Gold Fields executive VP Martin Preece

Gold Road targets A$26m exploration spend

By: Esmarie Iannucci     7th April 2020 Gold miner Gold Road Resources has set an exploration budget of A$26-million for the 2020 financial year, with the miner saying on Tuesday that it’s the majority of this work would be geared towards discoveries on the Yamarna belt, in Western Australia. Gold Road holds 4 500 km2 of land position... 

Blackstone signs share deal with EcoPro

By: Esmarie Iannucci     7th April 2020 Junior Blackstone Minerals has inked a share purchase agreement with Korea’s largest nickel-rich cathode materials manufacturer EcoPro, which will result in a A$6.8-million investment into the ASX-listed company. Under the purchase agreement, EcoPro would acquire 40-million shares in Blackstone... 

Golden Investment's stake in Stanmore jumps

By: Esmarie Iannucci     7th April 2020 Takeover target Stanmore Coal has again urged shareholders not to take any action in relation to a takeover offer from suitor Golden Investments, after its shareholding in the company increased from just over 31% to around 51%. Golden Investment last week launched a takeover bid for Stanmore,... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     7th April 2020 Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses

By: Martin Creamer     7th April 2020 Africa’s biggest bank by assets, Standard Bank Group, said on Tuesday that it had noted the contents of the guidance of the Prudential Authority of the South African Reserve Bank (SARB) on dividend distributions to ordinary shareholders. SARB’s Prudential Authority, headed by Kuben Naidoo, has... 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses
Sim Tshabalala

Tailings risk management still not up to standard – foundation

By: Marleny Arnoldi     7th April 2020 The mining industry is still “dragging its heels” on the step-change measures required to prevent catastrophic tailings failures, such as the Brumadinho tailings dam collapse in Brazil that killed 270 people, says Responsible Mining Foundation (RMF). In the newly released 'Responsible Mining... 

Marketing deal signed for New Elk coal

By: Esmarie Iannucci     7th April 2020 ASX-listed Allegiance Coal has finalised a sale and marketing agreement with M Resources Trading over the coal produced at its New Elk mine, in Colorado. The agreement provides for an exclusive global sales and marketing arrangement spanning five years, with M Resources’ marketing fees to be... 

Dazzler resource increases by 50%

By: Esmarie Iannucci     7th April 2020 ASX-listed Northern Minerals has reported a 50% increase in the mineral resource estimate for the Dazzler rare earths deposit, at its Browns Range project, in Western Australia. The deposit is now estimated to host 214 000 t of ore, grading 2.33% total rare earth oxide for five-million kilograms... 

Pure's Tech hub proves economical

By: Esmarie Iannucci     7th April 2020 An updated prefeasibility study (PFS) into the Townsville Energy Chemicals Hub (Tech) project, in Queensland, has confirmed its potential to deliver excellent economic results while remaining financially robust in a downward price cycle. Owner Pure Minerals noted that the Tech project will... 

Oil Search looks to raise A$1.1bn

By: Esmarie Iannucci     7th April 2020 Oil and gas major Oil Search is hoping to raise some A$1.1-billion to assist the company in retaining liquidity during the low oil-price environment. The equity raising will consist of an underwritten institutional placement to raise an initial A$760-million, and an accelerated... 

Oil Search looks to raise A$1.1bn

Newcrest establishes Covid-19 fund

By: Esmarie Iannucci     7th April 2020 Gold miner Newcrest Mining has established a A$20-million community support fund to assist host communities during the Covid-19 pandemic. The miner on Tuesday said that a portion of the fund would go towards vaccine research, while around half of the fund will be dedicated to assisting Papua New... 

Newcrest pulls out of GFG’s Wyoming project

By: Creamer Media Reporter      6th April 2020 Australian miner Newcrest has withdrawn from the option and earn-in agreement for the Rattlesnake Hills gold project, in Wyoming, US, TSX-V-listed GFG Resources has said. Since September 2018, Newcrest has invested $5-million in exploration expenditures on the project, which included more than 4... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

By: Simone Liedtke     6th April 2020 Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which in turn significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

Anglo going to great lengths to support South Africa in its Covid-19 hour of need 

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

Kore gets extended enviro compliance certificate for two Congo licences

By: Marleny Arnoldi     6th April 2020 ASX-, Aim- and JSE-listed Kore Potash has been granted 25-year certificates of environmental compliance by the Congo-Brazzaville government for the Dougou and Kola mining licences. The environmental- and social-impact assessments (ESIAs) for both licences previously required reapproval on a... 

Minister finds Covid-19 compliant mines but also laggards 

By: Martin Creamer     6th April 2020 As calls go out for mining to resume on April 17 or face serious setback, Mineral Resources and Energy Minister Gwede Mantashe has found excellent Covid-19 compliance by some coal mines that have been allowed to stay open to supply coal to Eskom – but inadequate response to directives by others.... 

Minister finds Covid-19 compliant mines but also laggards
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Pogo employee tested positive for Covid-19

By: Esmarie Iannucci     6th April 2020 An employee at gold miner Northern Star Resources’ Pogo mine, in Alaska, has tested positive for Covid-19 while at home on rostered leave. The miner said that the employee, who lives in Fairbanks, tested positive for the virus four days after completing his 12-day roster at the mine site. 

Fortescue, ATCO to build, operate hydrogen fuelling facilities in Western Australia

By: Reuters     6th April 2020 Australia's Fortescue Metals Group said on Monday it had signed a deal with the local unit of Canadian utilities company ATCO Ltd to build and operate hydrogen refuelling facilities for vehicles in Western Australia. To start with, the two firms will work towards building and operating a... 

Andromeda weighs wet processing in South Australia

By: Esmarie Iannucci     6th April 2020 An updated scoping study to consider wet processing of kaolinised granite at the Poochera halloysite-kaolin project, in South Australia, has increased the expected annual refined kaolin produced at the site, increasing the expected revenues and life-of-mine (LOM) earnings, ASX-listed Andromeda... 

Origin cuts APLNG cots for 2021

By: Esmarie Iannucci     6th April 2020 Energy major Origin Energy has announced plans to cut between A$300-million to A$400-million in upstream capital expenditure at the Australia Pacific liquefied natural gas (APLNG) project for 2021. The reduction will be driven by reduced development activity as well as lower exploration and... 

Eurasian Resources execs take 30% pay cut in support of Covid-19 measures

By: Marleny Arnoldi     6th April 2020 Global diversified miner Eurasian Resources Group (ERG) CEO Benedikt Sobotka and first deputy CEO Aldiyar Kaztayev have offered to take a 30% cut in their salaries for 12 months, owing to the unprecedented challenges that the world is facing as a result of Covid-19. The company is confident... 

Zeta provides funding to Panoramic

By: Esmarie Iannucci     6th April 2020 ASX-listed Zeta Resources has provided nickel miner Panoramic Resources with an A$8-million unsecured loan to fund activities at the Savannah project, in Western Australia, and for working capital purposes. The loan will have an interest rate of 6% a year, and is unsecured and subordinated to... 

Peninsula stops work at Wyoming uranium project

By: Esmarie Iannucci     6th April 2020 Uranium developer Peninsula Energy has suspended all non-essential site activities at its Lance uranium project, in Wyoming, amid the Covid-19 pandemic. “The Covid-19 pandemic has lead to considerable global uncertainty and equity market volatility. However, we are committed to both carrying the... 

Peninsula stops work at Wyoming uranium project

OceanaGold solidifies Holmes appointment

By: Esmarie Iannucci     6th April 2020 Dual listed OceanaGold has appointed Michael Holmes as president and CEO, following the resignation of Mike Wilkes earlier this year. Holmes was appointed acting president and CEO following Wilkes’ departure, and has now been appointed to the role permanently.  

Strandline arranges debt for Fungoni

By: Esmarie Iannucci     6th April 2020 Mineral sands developer Strandline Resources has signed a $26-million project finance facility agreement financier Nedbank CIB for its Fungoni project, in Tanzania. The facility will account for the majority of Fungoni’s $35-million capital cost, Strandline said on Monday. 

Rio relocates 700 miners with 'specialist skills' to Western Australia

By: Esmarie Iannucci     6th April 2020 Mining major Rio Tinto has relocated more than 700 of its staff with "specialist skills" to Perth from interstate as the Western Australian government put in place a hard border. Premier Mark McGowan last week announced that while interstate fly-in, fly-out workers would be allowed into the... 

Rio relocates 700 miners with 'specialist skills' to Western Australia

Resolute increases output in March quarter

By: Esmarie Iannucci     6th April 2020 Africa-focused gold miner Resolute Mining poured 110 763 oz of gold during the three months to March, a 5 470 oz increase on the December quarter. The ASX-listed miner on Monday reported that gold recoveries for the March quarter was up by 15% on the previous quarter, to 119 683 oz. 

M&R outlines evolving impact of Covid-19 disruptions to its projects

By: Marleny Arnoldi     3rd April 2020 JSE-listed Murray & Roberts (M&R) has noted the evolving impact of Covid-19 on its active projects in Australasia, the Americas and sub-Saharan Africa. The Oyu Tolgoi project in Mongolia, which the company’s Oil & Gas and Underground Mining platforms run in joint venture with a third partner,... 

Red 5 exercises Great Western option

By: Esmarie Iannucci     3rd April 2020 Gold miner Red 5 has exercised its option to acquire the Great Western gold deposit from fellow listed Terrain Minerals. The option agreement inked in November last year required Red 5 to make payments totaling A$2.5-million and a further A$2.2-million to exercise the option, with the exercise... 

NT approves first lithium project

By: Esmarie Iannucci     3rd April 2020 The Northern Territory government has approved ASX-listed Core Lithium’s mine management plan for its proposed Finniss lithium project. The Northern Territory’s Primary Industry and Resources Minister Paul Kirby said that it was the first ever lithium mine to be approved outside of Western... 

Lake Way on track for 2020 commissioning

By: Esmarie Iannucci     3rd April 2020 The Lake Way potash project, in Western Australia, is on track for commissioning in December this year, with owner Salt Lake Potash reporting that civil earthworks for the process plant and non-process infrastructure has been completed. The completed work includes pad preparation for... 

Miners digging deep for Covid-19 aid

By: Esmarie Iannucci     3rd April 2020 The Western Australian resources sector has contributed close to A$7-million to a Chamber of Minerals and Energy (CME) initiative to benefit local communities throughout the state during the Covid-19 pandemic. The CME established the initiative in the face of the Covid-19 outbreak and its members... 

Nopsema approves Scarborough development

By: Esmarie Iannucci     3rd April 2020 The National Offshore Petroleum Safety and Environmental Management Authority (Nopsema) has given the green light for oil and gas major Woodside’s Scarborough project, offshore Western Australia, following an assessment of its potential environmental impacts. CEO Peter Coleman said that... 

BMA to use charters in Queensland

By: Esmarie Iannucci     3rd April 2020 Diversified major BHP’s coal alliance with Mitsubishi (BMA) on Friday announced that it would only use charter flights to transport fly-in, fly-out (FIFO) employees and contractors, restricting non-residential workers from visiting townships near its mine site, and increasing health screenings.... 

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